Used car dealer Longo Group plans to debut in the capital market with its first bond issue

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JSC “Longo Group” is a used car trade group that manages six companies from Latvia European Union countries.

“In the first nine months of this year, the group’s turnover is 22.3 million euros. In the 3rd quarter of 2021, we achieved a record – sold cars worth 10.5 million euros with EBITDA – 526 thousand euros. and expand operations in all three Baltic Edgars Cerps, Chairman of the Board of JSC Longo Group, comments on the company ‘s debut bond market.

The funding raised through the bond issue will be used to expand the range of cars offered in Latvia, Lithuania and Estonia. The first bond issue is planned for the end of November 2021, and the bonds will be secured by the group’s assets – cars. Specific parameters of the bond issue will be defined in the issue regulations. The issued bonds are planned to be included “Nasdaq Riga“First North in the alternative market within one year after the issue.

JSC “Longo Group” organizes bond issue “Signet Bank“, which provides support to Baltic companies in raising funds in the capital market.

Branches of JSC “Longo Group”, where cars are sold, are open in Latvia, Lithuania, Estonia. In the Netherlands, Belgium and Germany, the company has branches that specialize in purchasing cars for sale in the Baltics.

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